Nevada Gaming Win Up 3% for Fiscal Year

Posted on by & filed under Nevada by the Numbers Blog.

Nevada’s nonrestricted gaming licensees reported a total “gaming win” of $933,003,709 for the month of June 2018. This amounts to a 4.17% increase compared to June 2017, when licensees reported a gaming win of $895,695,131. For the fiscal year (July 1, 2017 through June 30, 2018), gaming win has increased 3.21%.

In Southern Nevada, the Strip posted a healthy 5.36% gain, ending the fiscal year up an even 2%. Downtown was the loss leader for a second month with a 4.41% decline, but was still up 3.23% for the fiscal year. However, Mesquite came out on top both for the month and year.

Up north, Reno posted a massive 19.78% increase in gaming win for June. This left the city with a strong yet ominous 6.66% gain for the fiscal year. South Lake Tahoe saw an 8.65% decrease in June and had the weakest growth for the year at 1.71%. Shoutout to little West Wendover for performing the best of any region for the fiscal year, with a 9.53% increase in gaming win.

Thanks to Carlo Santarelli at Deutsche Bank, here are the underlying details for revenue in June (slots down, tables up):

 

Strip Revenues

June: +5.4% y/y (DB +3.0%)

2Q18: +5.6% y/y

Las Vegas Local Revenues

June: +0.9% y/y

2Q18: +6.6% y/y

Reno Revenues

June: +19.8% y/y

2Q18: +8.1% y/y

Strip Slots:

Slot Revs: -4.4%

Slot Handle: +4.6%

Slot Hold: -72 bps

Strip Baccarat:

Baccarat Revs: +12.3%

Baccarat Drop: +1.5%

Baccarat Hold: +111 bps (11.6% versus hold of 10.5% in June, 2017 and an LTM average of ~13.5%)

Strip Non-Baccarat Tables:

Non-Baccarat Table Revs: +18.5%

Non-Baccarat Table Drop: +9.3%

Non-Baccarat Table Hold: +134 bps

Strip Total Tables:

Total Table Revs: +17.4%

Total Table Drop: +6.4%

Total Table Hold: +135 bps

 

The State collected $47,410,727 in percentage fees during the month of July 2018, based upon the taxable revenues generated in June 2018. This represents a 9.36% (or $4,898,062) decrease compared to the prior year’s July, when percentage fee collections were $52,308,789.